399.502 Quitclaim deed by city of Durand; warranty deed by Ann Arbor railroad corporation; approval of legal documents by attorney general; right of first refusal.
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399.502 Quitclaim deed by city of Durand; warranty deed by Ann Arbor railroad corporation; approval of legal documents by attorney general; right of first refusal.
Sec. 202.
(1)If the city of Durand elects to make the gifts specified in section 201, the city of Durand shall deliver to the department a quitclaim deed for the structure and land described in section 201(1)(a) and (b), subject to any and all encumbrances, easements, and restrictions of record at the time of transfer. The deed shall include a covenant that provides that the property shall be used exclusively as a railroad history museum and that upon termination of those uses or upon use for any other purpose, title to the property shall revert immediately to the city of Durand. This covenant shall run with the land.
(2)If the railroad corporation elects to make the gift specified in section 201(1)(f), the railroad corporation shall deliver to the department a warranty deed that describes the property donated.
(3)The quitclaim and warranty deeds required by this section, and any other legal documents required to effect the transfers specified in section 201, shall be approved by the attorney general.
(4)If the department accepts the structure or land described in section 201(1)(a) and (b), or both, and later elects to sell that structure or land, the city of Durand shall have the right of first refusal with respect to purchasing the premises at its fair market value.
History: 1990, Act 325, Imd. Eff. Dec. 21, 1990